About the Symposium

Welcome to the 5th Saudi-Pak Accountancy Symposium organized by the KSA Committee of Members of the Institute of Chartered Accountants of Pakistan (ICAP), at the Ritz Carlton Hotel Auditorium in Riyadh, Kingdom of Saudi Arabia on May 17, 2017. ICAP KSA Committee of Members has made its mark as the pre-eminent overseas chapter with high its impact and, high visibility in the business corridors of KSA. The ICAP KSA Committee of Members remains grateful to ICAP and SOCPA and also to the Embassy of Pakistan in Saudi Arabia for the continued patronage.

In line with the theme of the Symposium "Vision 2030: Role of the Finance Profession", this event aims to highlight the role of Saudi Vision 2030 in the economic diversification of KSA and the expectation from the CFOs and Finance professionals acting as the stewards and business strategist to be at the forefront of this challenging period.

This Symposium provides a platform for professional services firms, professional bodies, regulators, the public sector and businesses (large and small) to shape the contribution of finance professionals to the success of Saudi Arabia: Vision 2030. Leaders are coming together for a focused day of informative discussion. They will consider the steps being taken to build a strong economy and identify the key pillars of the profession's role in achieving the Vision. Discussion themes will include economic challenges, the adoption of international standards; finding solutions for business transformation challenges and impact of VAT on businesses.

The Symposium will aim to bring together under one roof, the leading practitioners of accountancy and finance from Kingdom of Saudi Arabia and Pakistan. The track record of success, participation, rich and diverse agendas of the previous Saudi-Pak Accountancy Symposiums and coverage of the same in the local and international press has made this event an annual must for the best in the business. Besides, it will also provide a unique networking opportunity to all finance professionals to discuss ideas amongst themselves and the learned speakers.

Session 1 - "Transition to IFRS in Saudi Arabia - Learnings so far"

  • How can the profession support investors and boards in understanding the impact of the new basis of preparation?
  • Mindset shift: what are the professional skills required for a “principles-based” approach to financial reporting?
  • What can business learn about IFRS adoption from the banking sector in Saudi Arabia?
  • Exploring viable mechanisms for building the accounting and auditing capacity for a successful and sustainable transition
  • Understanding the commercial implications for businesses of the shift to IFRS now and in the future

Session 2 - "Business Transformation: Reviving Corporate Growth Agenda during difficult times"

  • Managing multiple triggers: Globalization, economy, technology advancements and challenges of regulatory compliance
  • How to respond with flexible solutions that can be implemented
  • Developing the right strategic vision that can be executed to achieve desired business results
  • Change vs Transformation: Understanding the difference

Session 3 - "Indirect Taxes in the Kingdom: Implications of the VAT and how would it impact businesses?"

  • Understanding the macro economic impact of the introduction of VAT
  • How long will it take for businesses to establish systems for VAT reporting?
  • How do companies plan to build the technical expertise to support VAT implementation?
  • Trusted advisors: what can businesses expect from their accountants in preparing for VAT implementation?

Workshop on - "Indirect Taxes in the Kingdom: Implications of VAT and impact on Business"

Part 1 - Theory

  • Why VAT?
  • How VAT works in principle
  • Zero Ratings & Exemptions
  • Statutory Obligations
  • VAT in International Transactions

Part 2 - Practice

  • What business needs to do to prepare for VAT?/li>
  • Implementation plans & road maps
  • Common Pitfalls for Businesses & Regulator
  • VAT Accounting
  • Practical & Business Issues
  • Questions

Speakers

Dr. Ahmad Almeghames
Secretary General, SOCPA
 
Nadeem Yousuf Adil
President, The Institute of Chartered Accountants of Pakistan
Kashif Rana
CFO
ACWA Power
 
Yves Graf
Head of Corporate Finance Almarai Group
 
Khalil Al-Sedais
Partner KPMG Al-Fozan Partners
 
Nauman Ahmed
Tax Partner Deloitte & Touche (ME)
 
Chadi Abou-Chakra
Director Indirect Tax & Fiscal Policy, PWC, KSA
 
Ahmed Abdelfattah
Director Assurance Ernst & Young, Riyadh
 
Fawaz Al-Fawaz
Global Chief Financial Officer TASNEE
 
Alhaitham A. Al-Ghothami
Economic Advisor General Authority of Zakat and Tax
 
Irfan Jawaid Nagi
Group CFO Tanmiah Foods Group
 
Tim Douglas
Senior Lecturer Saudi Industrial Development Fund
 
Moazam Ali Shah
Group CFO Al Zamil Industry, Trade & Transport, KSA
 
Adnan Mufti (FCA)
Tax Partner Moore Stephens Shekha & Mufti
 
Sarmad Khan
Chairman Overseas Coordination Committee, ICAP
 
Abdullah Akbar
Senior Director & Head of Audit Jeddah KPMG Saudi Arabia
 

Agenda

8.00 to 8.40 AM

Registration, Networking & Exhibition

8.40 to 8.45 AM

Quran Recitation (with English Translation)

SYMPOSIUM AGENDA

8.45 to 8.50 AM

Opening Remarks - Master of Ceremony

Abdullah Akbar

Senior Director, KPMG Jeddah

8.50 to 9.00 AM

Address By

Nadeem Yousuf Adil

President, The Institute of Chartered Accountants of Pakistan (ICAP)

9.00 to 9.10 AM

Address By

Ambassador of Pakistan to Saudi Arabia

 

9.10 to 9.20 AM

Special Guest Address:

"Accountancy Profession and Vision 2030" by

Dr. Ahmad Almeghames

Secretary General, SOCPA

9.20 to 9.30 AM

Distribution of

"3rd Most Valuable Contribution to the Profession Awards - MVCPA"

 

9.30 to 9.45 AM

Chief Guest Address

"The future of success - Vision 2030" By

Tareq Al Sadhan

Director General General Authority of Zakat & Tax

9.45 to 10.00 AM

Coffee / Networking break

FIRST SESSION

10.00 to 11.00 AM

"Transition to IFRS in Saudi Arabia - Learnings so far"

Panelists:

Fawaz Al-Fawaz

Global CFO TASNEE

Khalil Al-Sedais

Partner, KPMG Al-Fozan & Partners

Ahmed Abdelfattah

Director Assurance, Ernst & Young, Riyadh

Yves Graf

Head of Corporate Finance Almarai Group

Moderator

Moazam Ali Shah

Group CFO, Al Zamil Industry, Trade & Transport, KSA

SECOND SESSION

11.00 to 11.50 AM

"Business Transformation: Reviving Corporate Growth Agenda during difficult times"

Presentation 1 by

Tim Douglas

Senior Lecturer - Finance and Accounting, SIDF

Presentation 2 by

Kashif Rana

CFO, ACWA Power

11.50 to 12.30 PM

Prayer / Networking break

THIRD SESSION

12.30 to 1.30 PM

"Indirect Taxes in the Kingdom: Implications of the VAT and how would it impact businesses?"

Panelists:

Alhaitham A. Al-Ghothami

Economic Advisor, General Authority of Zakat & Tax

Nauman Ahmed

Tax Partner, Deloitte & Touche (ME)

Chadi Abou-Chakra

Director Indirect Tax and Fiscal Policy, PWC, KSA

Irfan Jawaid Nagi

Group CFO, Tanmiah Foods Group

Moderator

Adnan Mufti

Tax Partner, Moore Stephens Shekha & Mufti

1.30 to 1.40 PM

Address by

Sarmad Khan

Chairman, ICAP Overseas Committee

1.40 to 1.45 PM

Concluding remarks by

Muhammad Iqbal

President ICAP KSA Committee of Members

1.45 PM

Lunch

2.30 to 4.30 PM

Workshop on "Indirect Taxes in the Kingdom: Implications of VAT and impact on Business" by

Adnan Mufti

Tax Partner, Moore Stephens Shekha & Mufti

RECIPIENTS OF "THIRD MOST VALUABLE CONTRIBUTION TO THE PROFESSION AWARDS - MVCPA"

Tareq Al Sadhan, Director General of General Authority of Zakat & Tax


Mr. Tareq Al Sadhan has been appointed as the Director General, General Authority of Zakat & Tax since December 2016.

He served as Deputy Governor of Supervision at Saudi Arabian Monetary Agency October 2015 till November 2016. He was Managing Partner of KPMG Al Fozan & Al Sadhan until September 2015. Mr. Al-Sadhan was with KPMG for 18 years. He also was an elected member of SOCPA Board from 2005-2012.

He holds a BSc in Accounting from King Saud University and a Diploma in International Business from the University of Edinburgh in Scotland and an MBA from ENPC of Paris in France.

He is a member of the American Institute of Certified Accountants (AICPA), the IIA and the Saudi Organization for Certified Public Accountants (SOCPA).

He has extensive experience in the field of internal auditing and has worked on several major consulting projects for a number of public sector entities.

Asher Noor, Chief Financial Officer, Al Touq Group


Asher Noor is the Chief Investment Officer and Group CFO for AlTouq Group - a sophisticated Saudi Arabian family investment office and a sought after public speaker. Asher is based in Saudi Arabia for more than 15 years and has worked for PwC and Banque Saudi Fransi in the past. His last position was CFO for Morgan Stanley in Saudi Arabia.

Asher serves on the board of many companies representing AlTouq Group's global investments. His achievements include taking a company public, executing the first equity swap on Saudi stock exchange, several M&A transactions, trade sale exits as well as financial restructuring and advisory roles for subsidiaries.

Asher is a gold medalist, qualified trust & estate practitioner, chartered accountant, serves as an elected member of the STEP UK special interest group on business families, recipient of Middle East CFO of the year 2014 award and profiled as top 30 global family office investor by Trusted Insight. He is also a member of Pakistan and UK's public finance accountancy bodies. He holds family business advising certification from Family Firm Institute (FFI) in USA and serves on their faculty and editorial board. He is also an MBA in family business from EDHEC Business School, France and also elected to the university's global alumni board.

Sponsors

Main Sponsor

Co-Sponsors

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Contact

Contact persons for inquiries:
Hafiz Umer 0560595196 / hnaseem@tagorg.com
Farooq Arain 0542222483 / farooqarain@gmail.com